Sole Proprietors

Sole Proprietors Checklist

Thank you for choosing Chase. We have provided the following important information to help open your new account. We look forward to working with you.

Individuals that need to be present at account opening:

• Sole Proprietorships with one owner – the owner
• Spousal Sole Proprietorships — both owners
• Sole Proprietorship Living Trust – the trustee(s)
• Sole Proprietorship with a Power of Attorney – the agent
• If you need to add authorized signers to the account, they must also be present

Information required to open account:

• Personal Identification:
  • Two forms of ID are required. One ID must be a Government Issued ID.
  • Primary ID Examples:
    •  U.S. Citizens: State Issued Driver’s License, State Issued ID card, Passport, etc. 
    • Non U.S. Citizens:
      • Permanent Residents: 
        • Permanent Resident Alien Card (Green Card), State Issued Drivers licenses, State Issued ID card, Passport, etc. 
      • Non-Permanent Residents: 
        • Passport, Matricula, or U.S. Employment Authorization Card
    • Secondary ID Examples: 
      • Credit Card/Debit Card with embossed name, Employer ID, Utility Bill, etc.
• Tax Identification Number:
  • SSN, ITIN (Non-US Citizens), or an Employer Identification Number (EIN) is required.
• Business Documentation:
  • Varies based on the State of Organization.
  • Assumed Name Certificate-may be required if your business is operating with a DBA (doing business as). For example: Jim Jones DBA Jones Professional Painting.
    • Not required in AK, AL, HI, KS, MS, NM, SC, TN, WI, and WY
    • Not required for Sole Proprietors operating a business using the owner’s last name in CA, IN, KY, and TX
  • Note: Assumed Name Certificate may also be known as: Trade Name Certificate, Fictitious Business Name Statement, or DBA
  • Trust Documentation

The following documentation may also be required:

• Supplemental Documentation listing the owner and Assumed Name (one of the following):
  • Assumed Name Application or Filing Receipt
  • Published newspaper entry
  • Business License

Power of Attorney’s only:

• Original Power of Attorney Document 
• Personal ID
  • Agent: two forms of ID are required. One form must be a Government issued ID
    • Primary ID Examples:
      • U.S. Citizens: 
        • State Issued Driver’s License, State Issued ID card, Passport, etc.
      • Non U.S. Citizens: 
        • Permanent Residents: 
          • Permanent Resident Alien Card (Green Card). 
        • Non Permanent Residents:
          •  Passport or Matricula Consular Card.
        • Secondary ID Examples:
          • Credit Card/Debit Card with Embossed name, Employer ID, Utility Bill
      • Owner/Principal: agent is required to provide the owner’s Personal ID or a photocopy of the owner's personal ID.

Additional information that will be requested at account opening:

• Business address
• Phone number
• Number of business locations
• Where products and services are sold
• Where suppliers and vendors are located
• Nature of your business
• Annual sales
• Number of employees
• Types of transactions and volumes you expect to process through the new account

The following is needed if you would like to provide limited access to authorized employees (non-signers) to transact on behalf of your business using an employee card. Employee does not need to be present

• Full name as it appears on the employee’s Government issued ID
• Employee’s residential address
• Employee’s date of birth

Your satisfaction is our number one priority. If you have any questions regarding this information or anything regarding your new account, please contact your local Chase Business Specialist. Thank you again for choosing Chase.